Mexican Cartels Uncovered Using Cryptocurrency for Money Laundering
Authorities in Central Mexico have uncovered a massive cryptocurrency mining operation linked to terrorist cartels. The discovery was made after Mexican authorities received information about large energy draws in a rural area of Puebla.
A series of flyovers with drones revealed the existence of a large-scale computing facility hidden in the rural area, used for mining and moving cryptocurrencies. During a first raid, security forces seized 300 graphics processing units (GPUs), 80 medium voltage terminals, and eight satellite antennas.
In a second search at the same location, authorities found approximately 900 additional GPUs, more antennas, and other electronic equipment. This is the fourth such discovery in Central Mexico since last year, with all four crypto farms located near a hydroelectric dam in Puebla.
The Mexican authorities believe that cartel members are tapping into the facility's energy supply to hide their large-scale energy consumption, pointing to a shift in tactics by these organizations. The use of cryptocurrency is linked to semi-anonymous ways of moving money to China, used to pay for drug precursors like methamphetamine and fentanyl ingredients.